Investment Opportunity | 103-105 Stancill Dr

Multi-Family for Sale
Catylist Listing ID: 30785798
Property Subtypes: Duplex/Fourplex
Number of Units: 4 Units
Building Size (RSF): 3,811 SF
Gross Building Area: See Agent
Sale Price: $740,000
Unit Price: $185,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 6.5%
Average Occupancy Rate: 100
Last Updated: 5/25/2022

Overview / Comments

This excellent 1031 exchange opportunity is located in the ever-popular submarket near East Carolina University known as "the Grid" and consists primarily of SFRs with a student rental population. The neighborhood abuts downtown Greenville, a CBD experiencing rapid growth and development. Very rarely does an opportunity to acquire several single-family leased properties in one transaction occur in this stable neighborhood. The properties provide immediate, stable rental income with significant upside. This offering provides qualified buyers the opportunity to own high-demand rental properties in a sought-after neighborhood.

Interior inspections shall be a contingency of an accepted offer.

103 Stancill A & B
Renovated in 2015, the unit layout is the popular open concept with a nice flow. Stainless steel appliances, in-unit washer and dryer, and hardwood floors make this the perfect rental and ensures consistent lease ups. The fenced in backyard makes for a pet-friendly environment. New roofs and fascia boards wrap the exterior.

105 Stancill A & B
Renovated in 2015, the unit layout is the popular open concept with a nice flow. There is new countertops, stainless steel appliances, and hardwood floors sanded and refinished in 2019, which makes this the perfect rental that ensures consistent lease-ups. New roofs and fascia boards wrap the exterior

Additional Details

Nearest MSA: Greenville
County: Pitt
Tax ID/APN: 21014, 21015
Zoning: R6
Area Description: North Carolina is known for beautiful beaches, stunning mountain vistas, and many other natural resources that both residents and visitors seek out. Greenville, North Carolina is an ideal location for businesses and residents. About 80 easy miles each to Raleigh and the beautiful beaches of the Crystal Coast, Greenville has emerged as a thriving economic, educational, medical, and cultural hub of eastern North Carolina. The city has surged to become one of the state’s top 10 cities with a population of more than 175,000 residents in the MSA. East Carolina University provides a stable foundation to Greenville's economy with an enrollment of 30,000. This excellent 1031 exchange opportunity is located in the ever-popular submarket near East Carolina University known as "the Grid" and consists primarily of SFRs with a student rental population. Very rarely does an opportunity to acquire several single-family leased properties in one transaction occur in this stable neighborhood.
Total Number of Buildings: 2
Property Condition: Good
Number of Stories: 1
Year Renovated: 2015

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,450 60,109 96,297
Median Age: 22.74 29.49 30.71
Households: 4,416 24,972 39,622

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